CA Real Estate Finance Course » 2021 » Sec 9 Unit 5 Exam
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Question #1
Sophia’s annual property taxes are $1,295, and her annual insurance premium is $942. How much of her monthly mortgage payment goes toward taxes and insurance?
A.
$232.12
B.
$186.42
C.
$78.5
D.
$107.91
Question #2
If the annual taxes on a property are $1,000, how much is paid monthly?
A.
$76.54
B.
$83.33
C.
$84.27
D.
$67.82
Question #3
What does the “T” in PITI stand for?
A.
Tariff
B.
Taxes
C.
Territory
D.
Term
Question #4
Remy’s mortgage payment is $1,256.28. His annual property taxes are $809, and his annual insurance premium is $712. How much of his payment goes toward the principal and interest?
A.
$1,256.28
B.
$1,126.75
C.
$1,129.53
D.
$1,521.56
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